Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1995
Sq.Footage
N/A
Incredible investment opportunity for a 37 unit mobile home park at a 10.44% Cap rate. This park is spread among 37 parcels, totaling 9.25 acres with 37 pads in the beautiful town of Sparks, GA. This South Georgia town is located minutes from Interstate 75 and less than 7 miles to the Adel, Ga and 25 minutes to Valdosta, GA. This community features 37 park-owned homes (POH) with current Occupancy at 94.59%, with 27 doublewides and 10 singlewides. Sparks Mobile Home Park utilizes county water and county sewerage that is direct-billed to each tenant. Park supplies trash through a dumpster. Highlighted features include paved roads that are county maintained. The POH inventory age varies in age from the 1992 through the 2006, with only two outliers dated 1983 & 1989 - all homes are 3/2 with exception to one 4/2 and one 5/3. Several homes have new HVACs. With an average total rent of $785/month, there is room to increase the POH rents by at least $25-$50 per month on new turnovers. We are asking investors to submit offers at, or above, $2,650,000 for the portfolio, which includes all the home inventory as well as the land each parcel sits on. This is pricing the community at a 10.44% cap after expenses. This is well below replacement cost of used homes. Total income should provide an investor with a solid mid-teens cash-on-cash return. Titles are in hand. Rent Roll and PNL are available for qualified Buyers.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Basement YN
NO
-
Cooling YN
YES
-
Cooling
Electric
-
Heating YN
YES
-
Heating
Electric
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Vinyl Siding
-
Pool
No
Area & Lot
-
Lot Size(acres)
9.25
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
Price
-
Sales Price
$2,650,000
-
Tax Amount
6574.0
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Cook Primary/Elementary
-
Middle School
Cook County
-
High School
Cook County
Property Features
-
Stories
1
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Cook
Elementary School
Cook Primary/Elementary
Middle School
Cook County
High School
Cook County
Listing Courtesy of None
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